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Bayside began 2014 with an interest payable account balance of $13,000. On 12/31/14, it's interest payable account balance is $11,000. How much interest was paid
Bayside began 2014 with an interest payable account balance of $13,000. On 12/31/14, it's interest payable account balance is $11,000. How much interest was paid during 2014?
Sales: $120,000
COGS: 90,000
Gross Margin: 30,000
Op expenses: 10,000
Op income: 20,000
Interest expense: 2000
income before taxes: 18,000
Tax expense: 6000
Net Income: 12,000
Bayside began 2014 with an interest payable account balance of $13,000. On December 31, 2014, its interest payable account balance is $11,000. How much interest was paid during 2014?
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